Question

The beginning inventory for Matt Meyer Office Supplies and data on purchases and sales for a two-month period are shown in Problem 6-1B. Round the average cost to two decimal places.
In Problem 6-1B
The beginning inventory at Matt Meyer Office Supplies and data on purchases and sales for a two-month period are as follows:

Instructions
1. Record the inventory, purchases, and cost of goods sold data in a perpetual inventory record similar to the one illustrated in Exhibit 4, on page 311, using the moving weighted average cost method.
2. Determine the total sales, the total cost of goods sold, and the gross profit from sales for the period.
3. Determine the ending inventory cost.